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What amount should be deposited in a bank today

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Question - The present value factor at 8% for one period is 0.92593, for two periods is 0.85734, for three periods is 0.79383, for four periods is 0.73503, and for five periods is 0.68058. The future value factors for the same rate and periods are: one period: 1.08, two periods: 1.1664, three periods: 1.944, four periods: 2.099, and five periods: 2.267. Given these factors, what amount should be deposited in a bank today to grow to $100 three years from now?

Reference no: EM133103405

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